Krutilla's legacy: Twenty-first-century challenges for environmental economics

V. Kerry Smith

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

Few people have influenced environmental economics more than John. It has now been fifteen years since his last major book was published (Bowes and Krutilla), and early forty years since the article, "Conservation Reconsidered," that most environmental economists associate with him, appeared in the AER. This article revisits John's ideas in two areas. The first considers his arguments for existence values as a legitimate component of the benefits derived from public decisions for environmental assets. The second describes how he demonstrated that physical, economic, and institutional sources of interdependence alter the way benefit-cost analyses should be developed.

Original languageEnglish (US)
Pages (from-to)1167-1178
Number of pages12
JournalAmerican Journal of Agricultural Economics
Volume86
Issue number5
DOIs
StatePublished - 2004
Externally publishedYes

Fingerprint

economists
environmental economics
assets
Economics
economics
Cost-Benefit Analysis
Environmental economics
Benefit-cost
Existence value
Economists
Conservation
Interdependence
Assets

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

Cite this

Krutilla's legacy : Twenty-first-century challenges for environmental economics. / Smith, V. Kerry.

In: American Journal of Agricultural Economics, Vol. 86, No. 5, 2004, p. 1167-1178.

Research output: Contribution to journalArticle

@article{7b2e5ae630834972a9d90ecd34a32fb3,
title = "Krutilla's legacy: Twenty-first-century challenges for environmental economics",
abstract = "Few people have influenced environmental economics more than John. It has now been fifteen years since his last major book was published (Bowes and Krutilla), and early forty years since the article, {"}Conservation Reconsidered,{"} that most environmental economists associate with him, appeared in the AER. This article revisits John's ideas in two areas. The first considers his arguments for existence values as a legitimate component of the benefits derived from public decisions for environmental assets. The second describes how he demonstrated that physical, economic, and institutional sources of interdependence alter the way benefit-cost analyses should be developed.",
author = "Smith, {V. Kerry}",
year = "2004",
doi = "10.1111/j.0002-9092.2004.00662.x",
language = "English (US)",
volume = "86",
pages = "1167--1178",
journal = "American Journal of Agricultural Economics",
issn = "0002-9092",
publisher = "Oxford University Press",
number = "5",

}

TY - JOUR

T1 - Krutilla's legacy

T2 - Twenty-first-century challenges for environmental economics

AU - Smith, V. Kerry

PY - 2004

Y1 - 2004

N2 - Few people have influenced environmental economics more than John. It has now been fifteen years since his last major book was published (Bowes and Krutilla), and early forty years since the article, "Conservation Reconsidered," that most environmental economists associate with him, appeared in the AER. This article revisits John's ideas in two areas. The first considers his arguments for existence values as a legitimate component of the benefits derived from public decisions for environmental assets. The second describes how he demonstrated that physical, economic, and institutional sources of interdependence alter the way benefit-cost analyses should be developed.

AB - Few people have influenced environmental economics more than John. It has now been fifteen years since his last major book was published (Bowes and Krutilla), and early forty years since the article, "Conservation Reconsidered," that most environmental economists associate with him, appeared in the AER. This article revisits John's ideas in two areas. The first considers his arguments for existence values as a legitimate component of the benefits derived from public decisions for environmental assets. The second describes how he demonstrated that physical, economic, and institutional sources of interdependence alter the way benefit-cost analyses should be developed.

UR - http://www.scopus.com/inward/record.url?scp=10944228423&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=10944228423&partnerID=8YFLogxK

U2 - 10.1111/j.0002-9092.2004.00662.x

DO - 10.1111/j.0002-9092.2004.00662.x

M3 - Article

AN - SCOPUS:10944228423

VL - 86

SP - 1167

EP - 1178

JO - American Journal of Agricultural Economics

JF - American Journal of Agricultural Economics

SN - 0002-9092

IS - 5

ER -